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LONDON-Nelson Bakewell advised clients of Henderson Global Investors to sell the freehold interest of Units 2220-2226 The Crescent, Birmingham Business Park, Birmingham, to a private investor.

The property comprises a 1990s terrace of four self-contained offices of approximately 6,444 sf with 37 car parking spaces. The property is let on four co-terminus leases to Co-operative Bank plc expiring on 10 January 2016. The current passing rent is £129,720 ($189,819) per annum.

The property was purchased by a family settlement for £1.695 million ($2.48 million) which reflects a net initial yield of 7.24%. Smiths Gore advised the purchaser.

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